PFE (Pfizer) How high will it go? Message Board

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Biotech / Medical : PFE (Pfizer) How high will it go?

PFE 25.44

+1.5%

3:45 PM EST

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To: Anthony Wong who wrote (6979)	2/10/1999 5:34:00 PM
From: BigKNY3	Read Replies (1) of 9523

Briefing.com reiterated its market outperform rating for the Pharmaceutical industry for the following reasons: Dependable double-digit top and bottom line growth Average long-term projected growth rate for the major drug companies is an impressive 15.5%, Resistance to economic cycles Impressive pipeline of new drugs... According to a recent survey US drug companies now have more than 1,000 new medicines in development. More receptive regulatory environment Over-65 population is forecasted to nearly double by the year 2025. World population is not only getting older, but life expectancies are getting higher. These trends definitely bode well for the drug industry as elderly account for a disproportionate percentage of health care expenditures. Current market jitters, the soft dollar and the potential for further consolidation also bode well. Group trading at about 1.5x market multiple (based on projected earnings for FY99)... Given dependable growth history and better than market growth rate, Briefing.com contends drug sector could trade as high as 1.75x to 2.0x market multiple before becoming overheated.

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